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Midwest Federal Savings & Loan : ウィキペディア英語版
Midwest Federal Savings & Loan

Midwest Federal Savings and Loan was an American bank headquartered in Minneapolis, Minnesota. Starting in the mid-1960s, its headquarters were located at 801 Nicollet Mall in what is now called McGladrey Plaza. Midwest Federal was in business for ninety-nine years until its failure in 1989. Its collapse was due mostly to bad real estate loans. On April 22, 1991 the ''St. Paul Pioneer Press'' called the bank's failure the "largest financial disaster in Minnesota history" and was part of the savings and loan crisis of the 1980s. Midwest Federal had assets of $3.5 billion, was liquidated by the Government at a cost of $1 billion to taxpayers. Midwest was $1 billion in debt when it was seized by regulators in February 1989.
The former chairman, Harold W. Greenwood Jr., Donald J. Snede, Charlotte E. Masica, and Robert A. Mampel were indicted on Federal fraud and conspiracy charges involving financial losses at the failed institution. After its collapse, Midwest Savings was eventually placed under the "conservatorship" of the Resolution Trust Corporation (RTC)〔(【引用サイトリンク】66 F.3d 956 )〕 until its deposits were sold to various parties. The largest share of Midwest's deposits - $638 million - went to Minneapolis banker Carl Pohlad, whose Marquette Bank Minneapolis bought the deposits of eight branches for US$3.2 million.
== Causes of failure ==
The bank was involved with a series of unsecured loans. Many of the bad loans were to mobile home owners. On the opposite scale were the unsecured loans to the Jockey Club of Miami, a resort in Miami, Florida, beginning in 1975, with a $6 million loan in 1975. The bank continued unsecured loans to the resort until its collapse in 1990.

抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)
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